Large Firm

State of the Profession 2021: BigLaw proved to be most resilient to COVID-19

Fears that COVID-19 would cause a prolonged financial blow to the legal industry did not come to fruition. Instead, many firms were able to quickly and effectively transition to remote working, which left them in position to assist with an array of COVID-19-related legal issues. But the industry’s successful transition to widespread remote working has not come without drawbacks.

Dec 1, 2021 12:00 AM CST

Jurors rule against associate who sued King & Spalding for alleged ethical retaliation

Fired King & Spalding associate David Joffe lost his wrongful termination lawsuit Monday when jurors found that the law firm had no liability.

Nov 30, 2021 9:32 AM CST

Some law schools outside T14 still send many grads to the nation’s top-grossing firms

Two law schools outside the T14 have landed on a list of schools with the highest percentage of alumni going to the nation’s 10 highest-grossing law firms.

Nov 23, 2021 12:55 PM CST

Ex-LeClairRyan general counsel gets prison time, while firm insurer agrees to pay $10M to bankruptcy trustee

The former general counsel of the defunct law firm LeClairRyan was sentenced to 44 months in prison in Richmond, Virginia, on Monday for lying to the U.S. Trustee Program while trying to thwart an investigation into his embezzlement of more than $4 million.

Nov 23, 2021 10:02 AM CST

Cravath is first to announce year-end associate bonuses, with more money for every class year

Cravath, Swaine & Moore announced year-end bonuses of up to $115,000 for associates Monday, topping last year’s year-end bonuses of up to $100,000. Cravath has “reclaimed its throne as BigLaw’s bonus leader” by being the first to announce.

Nov 22, 2021 4:36 PM CST

Fired K&L Gates partner is charged with cyberstalking former colleagues

Fired K&L Gates partner Willie Dennis has been charged with four counts of cyberstalking former partners and other colleagues at the law firm.

Nov 22, 2021 9:25 AM CST

Sidley Austin implements executive training and new titles for associates

Senior Sidley Austin associates are getting new titles and new opportunities to learn business skills.

Nov 18, 2021 2:06 PM CST

Talent wars top list of perceived threats to law firm profitability, new survey finds

Law firm business leaders are bullish about the future of the legal industry, but they are increasingly concerned about the impact of talent wars on profitability, according to a survey released Tuesday.

Nov 17, 2021 9:12 AM CST

Some law firms are promoting record numbers of associates to partnership

Several law firms have announced their largest new partner classes on record amid a push to reward lawyers and create an incentive for associates to stay.

Nov 15, 2021 3:35 PM CST

Top 50 law firms are ‘cannibalizing’ an increasing share of legal revenue

The nation’s 50 highest-grossing law firms continue to outpace other higher-earning firms in growth in income, net revenue and demand, according to financial data.

Nov 15, 2021 12:05 PM CST

Lawyers and staffers at just 3 BigLaw firms gave more money to Trump than Biden

Lawyers and staff members at top law firms overwhelmingly favored President Joe Biden and Democratic Party organizations in campaign contributions than former President Donald Trump, according to a law professor’s analysis.

Nov 10, 2021 11:24 AM CST

Kirkland & Ellis apparently wins huge fee in contingency case

Kirkland & Ellis has apparently received a $200 million contingency fee in its representation of a company claiming that its purchase of chemical businesses was marred by the seller’s fraud and breach of contract.

Nov 9, 2021 9:21 AM CST

Law firm talent war drives firm expenses up 7.2%; will associates be a ‘profit sinkhole’?

Direct expenses at larger law firms increased 7.2% in the last year, mostly driven by a jump in associate compensation, according to the latest Peer Monitor Index report by Thomson Reuters.

Nov 8, 2021 12:23 PM CST

Pioneering Utah justice will join BigLaw firm opening Salt Lake City office

Utah Supreme Court Justice Constandinos “Deno” Himonas, one of the major driving forces behind his state’s groundbreaking reforms opening up the legal marketplace to nontraditional providers, recently announced that he will be retiring from the bench to join a major law firm opening an office in the state’s capital.

Nov 3, 2021 10:56 AM CDT

BigLaw firm announces special bonuses; blog notes key word is ‘discretionary’

Paul, Weiss, Rifkind, Wharton & Garrison announced special bonuses last week for associates and counsels who showed “exceptional commitment.”

Nov 1, 2021 4:32 PM CDT